More and more industries are experiencing accelerated digital transformation in 2020 and the housing market is no exception. The following technology trends are becoming more prevalent and applicable than ever before.
From construction and sales to remodeling and moving, technology can assist businesses and home-buyers alike. Here are top technology trends currently spurring digital transformation in the housing industry.
Construction and Manufacturing for the Housing Industry
Software and digital tools are of paramount importance in construction and manufacturing. Between tracking orders and monitoring the manufacturing and delivery of supplies, back-end systems keep the supply chain and overall operations running smoothly. Beacons and IoT devices are used to monitor equipment and encourage preventive machine maintenance so that operations never have to halt.
Tablet software provides easy access to digital blueprints and notes to be referenced at the construction site. Finally, innovative technology like augmented and virtual reality can help construction projects come to life for new owners who are in the process of building their dream home.
Showing Houses Online Through Virtual Home Tours
Virtual showings have become more prominent this year as people are unable to participate in open houses and in-person house tours. Some real estate professionals are even providing virtual tours through FaceTime, Zoom or other video conferencing technology.
The use of virtual reality (VR) also allows sellers to make self-guided tours available for prospective buyers online. VR helps to provide panoramic and 360-degree views of listings that can be experienced in greater detail than still images.
One challenge of virtual tours is that it can be difficult to visualize rooms to scale. However, as buyers may well know by now, house listings often feature pictures taken at strategic angles regardless. Through VR, detail and care is taken to construct virtual representations that portray real-life objects in an accurate way while accounting for the capabilities and affordances of the technology.
Communicating with Realtors Throughout the Buying Process
While back-end systems are an integral software solution, there are many customer-facing benefits as well.
Buying a home can become complicated and confusing, especially for first-time buyers. Realtors assist aspiring homeowners in navigating the housing market, but a software or technology solution can also help to streamline the process.
Realtor-Buyer communication is key throughout the process of buying a house, so a useful and comprehensive software solution will support messaging and even video conferencing. Video calls can be more personal than a phone call and help to establish rapport in the absence of face-to-face meetings. As mentioned previously, video capabilities also enable realtors to provide digital walk-throughs for those who are in the market for a new home.
Often, real estate inefficiencies occur through delayed communication or even miscommunication between buyers and sellers. One party may be waiting on a document or signature from the other party without their awareness, holding up the home-buying process. Since realtors often manage multiple properties and deals at one time, an effective software solution is extremely valuable.
In addition to centralized communication, custom software development for the housing industry provides multiple other benefits as well.
Buying and Selling a House
An online portal could provide buyers, sellers, and realtors with a digital checklist and progress bar, showing the buying and selling process and helping them to stay up-to-date with tasks and next steps. Customized features could enable users to manage property listings, set up a walk-through (virtual or otherwise), schedule an inspection, track offers and more.
Tablet apps are an environmentally friendly approach that can reduce or even eliminate the paperwork a realtor needs to carry with them. Instead, resources can be available digitally, right at their fingertips. The digital organization of paperwork, contracts and electronic document signing can even enable virtual closings.
Technology solutions in the housing industry go beyond selling houses. Hotels and short-term rentals utilize mobile apps and mobile key fobs for bookings and check-ins. Apartments can even take part in digital transformation with software to initiate and manage leases, book virtual tours and schedule maintenance.
Custom Software for Home Remodeling and Decorating
Contractors can utilize software solutions and database systems for appraisals and invoicing, while repair companies can capture and store pictures to document damage for insurance purposes. Reporting is also a key feature of custom software, empowering businesses to make data-driven solutions.
If homeowners are interested in home improvement through remodeling or interior decorating, augmented reality will also allow them to stage furniture and try out different paint colors.
Some owners go so far as to embed the technology right into their homes. Smart houses are decked out with keyless entry and IoT-connected appliances, lights, thermostats, security systems and more. Home hubs and mobile apps allow them to control their home from a central device, whether they are there or away.
Work with 7T to Craft a Custom Solution
There are many use cases of digital transformation and custom software solutions in the housing industry. The benefit of a custom platform is that businesses are able to truly make them their own.
Specific needs and pain points give rise to features and functionalities, tailored to increase productivity and efficiency while reducing costs and providing a powerful ROI. No matter your goal, with our hands-on, business first approach, 7T will help you develop a solution that works for you.
We provide a variety of services, including custom software development, data governance solutions, cloud integrations, software consulting and mobile app development. To connect with a member of our team and discuss your development project, reach out to 7T today.